Some Global Facts
Majority of oil and gas companies have pledged to reduce carbon emissions via variety of measures. The sector’s own carbon footprint — operations plus emissions from energy consumed — is at least 2.6 billion tons annually out of the 37.1 billion tons produced by human activity.
The world emits around 50 billion tonnes of greenhouse gases each year [measured in carbon dioxide equivalents (CO2eq)].1
To figure out how we can most effectively reduce emissions and what emissions can and can’t be eliminated with current technologies, we need to first understand where our emissions come from.Advancing toward a net zero emissions future is one of the biggest challenges — if not the biggest — facing humanity today, and the clock is ticking loudly. The oil and gas industry must take a leadership role by not only reducing its own carbon footprint but transforming the global energy systems.
Today there are innovation and investment gaps in achieving these targets, but the ingredients are either available or within reach. As in other industries, digital technologies will be the catalyst to speed up and democratize innovation.